Hedge fund firm Odey bets on Man Group recovery

Reuters – Odey Asset Management has sharply increased its stake in Man Group Plc, taking a bold bet on a fightback by the struggling computer hedge fund firm.

Odey, founded by veteran fund manager Crispin Odey and which is known for its lucrative bet in 2009 on a recovery in Barclays shares, has increased its stake in Man to 5.15 percent, worth some 70 million pounds ($113 million).